Expedia (EXPE +4.6%) pops after Deutsche upgrades shares to Buy, citing an improving bookings...

|By:, SA News Editor

Expedia (EXPE +4.6%) pops after Deutsche upgrades shares to Buy, citing an improving bookings conversion rate. Also, Cantor started coverage yesterday afternoon with a Buy, as part of a broader sector launch. The firm argues Expedia is reasonably priced at 9x estimated 2012 EBITDA, and thinks the online travel services firm "is still in the early stages of a business turnaround."